If you are over 70 and ½ years of age, or are affiliated with a public charity, please scroll down to learn more about the permanent extension of the Charitable IRA Rollover.

This is a big deal, because it creates new ways for certain donors to support their favorite causes with dollars they might otherwise never need.

Please feel free to contact me with any questions you may have about the Charitable IRA Rollover, or the template I've provided, below, and on our website, to help you make a qualified contribution to Napa Valley Community Foundation.

Sincerely yours,

Terence P. Mulligan

President

Permanent legislation benefiting public charities was recently passed by Congress and signed into law by the President.

The PATH Act allows donors to make tax-free charitable gifts from an Individual Retirement Account (IRA) to public charities, retroactive to January 1, 2015.

Donors don't report such transfers as income, so there is no tax. Moreover, charitable IRA transfers count towards the donor's minimum distribution requirement.

Which donors qualify? Individuals who are 70 ½ or older.

What accounts qualify? Traditional or Roth IRAs. This opportunity does not apply to other retirement plans.

Please feel free to use the form, below, or click here for a printable version. You can give to Napa Valley Community Foundation or replace NVCF with another beneficiary.

GIFT LETTER TEMPLATE: CHARITABLE IRA ROLLOVER

Date:_______

Dear Napa Valley Community Foundation,

I have saved for retirement my entire life and have the good fortune of being able to give something back to my community. I have chosen to use my individual retirement account to make a gift to your organization. My account's administrator, NAME, will soon be transferring $000,000, directly to Napa Valley Community Foundation.

I intend to comply with the requirements of the legislation and the Internal Revenue Code by making a qualified charitable distribution directly from my IRA to a public charity described in code section 170(b)(1)(A) (other than an organization described in section 509(a)(3) or a Donor Advised Fund (as defined in section 4966(d)(2)).

When you receive this gift from my IRA account administrator, please send me a written acknowledgement that states the amount of my gift, that no goods or services were transferred to me in consideration for this gift, and that my gift will not be placed in a Donor Advised Fund or Supporting Organization. My intention is to exclude this IRA distribution from my income.